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Stock Market Crash - Robert Prechter on Bloomberg - Oct. 19, 2007


http://www.elliottwave.com/s.a... Robert Prechter on Bloomberg TV on the 20th anniversary of the 1987 stock market crash predict what is unfolding before our eyes today. An uncannily accurate forecast from the man that forecast the 1987 stock market crash.Why would anyone think that the Fed's actions have any influence whatsoever on the trend in the stock market?The Fed has similarly cut the discount rate twice in recent months, and on all occasions (Sept. 18, Oct. 31, Jan. 22, Jan. 30) the stock market immediately rallied... only to see prices give back those gains and more, within a few short days or weeks.Mind you, these are recent and relatively minor instances. There are longer-term examples that unfolded for years, such as the Fed's historic campaign in 2001-2002 that saw a DOZEN rate cuts, during which time the S&P 500 lost HALF of its value.More dramatic still was the Bank of Japan's campaign that took rates to virtually ZERO for entire decade, even as their Nikkei stock index declined and/or languished over the entire period.There's nothing new about this information -- we've spelled it all out before, as recently as Bob Prechter's Nov. 27 and Jan. 24 appearances on Bloomberg television. Watch Prechter on Nov. 27: http://www.youtube.com/watch?v... charts and facts, Bob showed how powerless the Fed really is; he also reminded the audience that "People should be careful of what they wish for when they ask for lower rates."Yes, the financial establishment labels Bob Prechter a contrarian. But, what does it say about that establishment's state of mind when arguments based on facts and evidence make a person "contrary"?All the charts Bob included in that interview -- in fact, everything he said at the time and more -- is in the current Elliott Wave Theorist and Elliott Wave Financial Forecast. See it all on your computer screen in minutes, via the fast link below. http://www.elliottwave.com/s.a... TO YOUR FAVORITES! EMAIL THIS VIDEO TO FRIENDS!

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: elliottwaveintl

Length: 07:07
Rating: 4.8188977
Views: 127194

Tags: stock  market  crash  robert  prechter  bloomberg  1987  the  Fed  central  banks  japan  commentary  analysis  news  

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StockHighlights (November 30, 1999 at 12:00 am)
Please check me out on twitter: StockHighlights .... I never waste any1 looking to make money's time. You will like my insights and market timing skills. Youtube videos coming soon!
judoyodan (November 30, 1999 at 12:00 am)
A broken clock is correct twice a day.
grimesgw (November 30, 1999 at 12:00 am)
What "mistake on the dollar"? Against all mainstream logic, the dollar is rallying, as P anticipated.To answer your Q, "what's stopping the gov't from printing?" That's easy -- the Chinese, the U.S.'s biggest lenders.
wavytv (November 30, 1999 at 12:00 am)
SELL, SELL, SELL...
jdbrown371 (November 30, 1999 at 12:00 am)
People aren't borrowing. Big banks are refusing to lend. People are walking away from mortgages. FHA is the housing market. Liquidity is drying up and never has there been so much debt to pay off. If you think that's inflation then buy gold, short the dollar and get filthy rich. Here's your chance, the dollar rallied and it must be a correction before it plunges further down. The Fed has enough shit on its books that its a threat to it's own survival. Might as well listen to Jim Cramer
jdbrown371 (November 30, 1999 at 12:00 am)
Prechter predicted that gold would go up in the blowout typical of commodities and then correct sharply. With hindsight, his forecast was 100% correct. Other than one bad call, he called nearly every turn in gold for the past twenty years. The last two decades, Prechter called the gold market better than anyone else in history. If you're trading Elliott correctly, when you're wrong you don't lose much and every trader who makes money consistently loses money on at least 40% of his trades.
abcdefghix2006 (November 30, 1999 at 12:00 am)
Part of Prechter's mistake on the dollar, I think, was to ignore the role of the Fed and the administration. They are "psychological" players in this game too, and you have to consider the effect they will have. If we suffer a crash of the magnitude that Prechter predicts, you can be sure that the government is going to PRINT and SPEND until jobs and asset prices respond. Why wouldn't they? What is stopping them? What do they gain by holding back? The right play here is gold.
ggadguy (November 30, 1999 at 12:00 am)
This guy was so wrong about gold. And in a recent interview he still thinks gold could go down. But he's right about the other things he mentioned.
TYX91101 (November 30, 1999 at 12:00 am)
If the Dow is topping right now, and the next leg down is equal to the first, Dow 10200 will yield a downside target of BELOW 2500.
marnevivek (November 30, 1999 at 12:00 am)
Just cause u cannot predict market or posterboys and girls of Media cannot do doesnot mean no one else can do..